House as a gift.

dar3n_2

maybe she will feel good by doing so

This is exactly it, She knows Im not happy in my current situation.
She has sold a property that had bad memories and wanted to turn it into something good.
Her finances are very secure.

hopefulfooluk

dar3n wrote: »

This is exactly it, She knows Im not happy in my current situation.
She has sold a property that had bad memories and wanted to turn it into something good.
Her finances are very secure.

Excellent - enjoy your new, mortgage free home then!

dar3n_2

is this true..

Hahahaha, It is a little hard to believe especially in todays world. and believe me, Ive had many discussions with her about if its really what she wants to do...

Athlete

What are you going to do with the house live in now, sell it? If you do you are in a win,win situation:beer:

dopester

Athlete wrote: »

What are you going to do with the house live in now, sell it? If you do you are in a win,win situation:beer:

He's just been bought out of his last house, according to another post he made earlier. So now he's got a friend buying him a house, and possibly a nice bit of cash in the bank, if he's telling the truth.

dar3n wrote: »

I recently split with my partner of 12yrs and we owned a house together.
The split was no problem with her keeping the house and buying me out for an agreed amount.
Her solicitor dealt with the whole thing, sending me the paperwork, which was really just a letter of consent.
I signed it, returned it, they paid me the money, the house is now hers.

dar3n_2

if he's telling the truth.

What would i achieve by lying?
All I wanted to know was if there was anything I should be aware of that could bite me in the a$$ later.

If you dont believe the post, thats up to you..

dopester

dar3n wrote: »

If you dont believe the post, thats up to you..

It isn't so much that. With the occasional troll poster around, I don't automatically believe every post, but I don't not believe you either.

It just seems unusual and you haven't given any background to why your friend is being so generous.

The fact your friend also wants to spend £30K building/adding a 4th bedroom makes me suspicious that it would truly be all your house afterwards as a gift. This friend of yours truly will have no interest left in the house after purchase and development? Why the 4th bedroom she wants to add on?

Fire_Fox

Maybe it's a grab-a-Granny situation?

dar3n_2

why your friend is being so generous.

She feels that I saved her life a few months ago, she is diabetic and her sugar levels dropped so low she almost went into a coma, I was there to support her until emergency services arrived. Apparently she was told if they hadn't been called she would have died.....All I feel I did was to do what she, as a diabetic, should have already known.

Why the 4th bedroom

The house is detached and on a corner plot, I mentioned in passing the potential the property has for expansion, She took it one step further as her family is in the construction industry to get the extension done,

I can see where the skepticism is coming from and believe me I didn't believe it when she offered and if I'm truly honest I STILL cant believe it, and wont until the day comes that the house is actually mine..

00ec25

the implications are all for her

as said she will have an IHT liability for the next 7 years - her estate will have to pay it (lets hope she still has some money left), you will not have to pay it

If she does actually gift it to you after she has purchased I think she may have to pay a second round of stamp duty as they do not like items given awy for nil cost to the receipent. Again you will not have to pay anything